AI productivity with generative artificial intelligence (AI) lets your organization improve results without hiring new people.
AI lets you increase the productivity of your existing team instead of searching for new talent and training additional people.
Let’s take a look at how generative AI will help you increase the productivity of the people you already have. Generative AI has created countless opportunities to optimize the tasks knowledge workers face every day. Research in the US shows that up to 60 percent of work done by office workers can be improved with AI tools.
This fact alone means tremendous value and savings for you and your team. Even if AI helps you optimize a tenth of this 60% you will see a 5 to 10 percent increase in results.
At the same time, these results do not introduce additional costs, which means the added value goes directly to the bottom line.
Work time distribution by industry and potential AI impact. Based on their employment levels in the US in 2021. Source
Optimizing the everyday tasks with AI can increase the productivity of that task 2 or 3 times, or in some cases more than 5 times. But that’s not all, the benefits will add value in other dimensions:
- AI productivity increases on the personal level of each team member
- Productivity increases on the team level
- Improved communication with customers
- Improved work satisfaction of team members
- Better organizational culture
- Competitive advantage
Next, I will show you how to save money and increase results in all those areas.
AI productivity increases on the personal level
The most direct and measurable value in your organization comes from your team spending fewer hours on the same tasks. Almost every person in your organization who works with a computer could free at least 10% of their time using AI.
This increase in productivity does not depend on the number of team members. We can say that for every 10 people who start to use AI in their work you get one person’s worth of additional time and resources.
But this 10% is just what you save in time spent on tasks. In reality, you get more value from eliminating tedious and routine tasks. Your team can spend this time on creating more value working on more important activities.
This means you can eliminate 10% of the least valuable time and add it to the most important tasks. The results could be much more than just the 10% of eliminated low value tasks, you can get 15 or 20% improvements. Sometimes even more.
ChatGPT reduces time spent on task by 37% and improves quality by 18%. Source
Avoiding mistakes improves productivity 2x or more
This is just the beginning. Some of the working time is spent fixing errors and mistakes. Mistakes happen in routine and boring tasks. We all make mistakes, it’s inevitable.
When AI helps to avoid mistakes then you can reap 2x or better increases in productivity. For example, when an employee makes a mistake, it takes the regular amount of time to complete that task. Next, someone spends time to find the mistake and communicate it back to the original employee. Finally, the original employee has to spend time fixing the problem.
When AI process is in place then the task takes less time in the first place. AI process will eliminate mistakes almost completely. The result is orders of magnitude fewer mistakes in that process.
Better customer service improves loyalty
Artificial intelligence helps to eliminate problems in customer service, increase the speed of responding to clients, and increase customer satisfaction.
AI will help to solve simple problems automatically or on a self-serve basis. Your team members don’t have to spend a lot of time solving trivial and repeating issues. The time saved by this can be used to make support faster and more personal.
Better customer satisfaction drives repeat business, more revenue, and a better image.
AI helps to reduce cost
The activities you automate with the help of AI will help get better results in a shorter time. At the same time, you eliminate lots of mistakes and do the same tasks several times for troubleshooting. In the end, you will have lower costs in getting the same results.
Using artificial intelligence to increase productivity and optimizing processes will keep the costs constant. In some cases, your costs can even go down. This means the savings show up directly on the bottom line.
AI productivity increases at the organizational level
Generative artificial intelligence is the first step to getting better results and optimizing processes in your organization. During the personal productivity phase of the optimization, we will find tasks that can be fully automated. This will free up all the time your team members are currently spending on those tasks.
In a well-planned strategic approach, you can use the value you gain from improving personal productivity to implement business process automation with artificial intelligence.
AI productivity with automation of knowledge work will change the business processes. Source
Automation with AI can enable you to implement processes that were not previously possible. However, optimizing personal productivity with AI will reveal the processes that can be replaced by machines.
Automating processes involve IT development and this will be suitable for organizations with more than a couple of dozens of knowledge workers.
In organizations of that size the value gained from implementing AI in personal productivity can be in hundreds of thousands of dollars per year.
This way generative AI productivity will pay for developing the AI systems in the next step.
Here are some of the examples that can be implemented throughout the organization:
24/7 availability
Your customers may need support at 3AM. They may want to give you money at 5AM.
AI solutions enable you to automate parts of the customer communications and create content that helps them 24/7.
The simplest example of this is an AI powered chatbot that can actually solve problems and is not just a collection of written down questions and answers.
Personalization improves customer loyalty
You can use artificial intelligence to personalize customer interaction at a level where every client feels that they are special. At the same time AI helps you avoid sounding robotic in your interactions.
When your sales team needs to compile a personalized offer, that accounts for all the special circumstances of your client, then you can train an AI model that knows everything about your organization and your customers.
Fast, personalized, and relevant communications will help you stay ahead of your competitors and increase customer loyalty.
Scalability, AI lets you grow without cost
Automated AI systems let you grow without increasing cost. When you use AI to optimize processes it doesn’t matter if it has to do something 100 or 1000 times.
Faster and higher quality work results in getting ahead of your competitors. AI helps you get and keep more customers which in turn lets you invest more into sales and marketing. Those activities are more effective and personalized than your competitors’.
Using AI to improve results in your organization will kickstart a positive feedback loop. The results are hard for your competitors to copy. As you get ahead you have more and more resources that they just can’t match at their current level of productivity and effectiveness.
Predictability helps you reduce cost
Optimizing your processes with AI will also make them clearer. This will ensure that when problems inevitably happen everybody knows what they need to do. This way you have to deal with less uncertainty and unexpected events.
AI enables growth. With growth comes more data. More data lets you have better models and predictability. More data lets you use machine learning to predict changes in your business and how your customers behave in various situations.
When you have better predictability, you can improve productivity by optimizing the use of resources.
AI in customer communications
AI process optimization helps you improve all the customer related metrics in your organization. Customers get better care in general with faster and more personalized experiences.
Sales results are the engine of growth
A sales team augmented with AI systems will give customers faster responses. Faster responses lead to better closing rates in competitive situations. Research shows that the probability of closing a deal will drop exponentially as time passes.
At the same time, AI processes help you reduce the error rates when answering customer inquiries. Fewer mistakes lead to more sales.
When faster responses increase closing rates, you get a bigger share of the market. This will often lead to even higher team productivity and your competitors will have a smaller share of the market to work with.
More sales let you assemble a better team. A positive atmosphere increases results, which in turn increases salaries. Better salaries lead to your organization being considered by better professionals.
ChatGPT can increase sales results by more than 60%. Source
AI improves customer satisfaction
Faster and more personal communications improve your customer satisfaction. Predicting and optimizing your customer relations will help to avoid problems. You will have fewer issues with product or service quality. Which in turn leads to lower demand for customer support. Satisfied customers improve your brand and lead to more business.
Customer satisfaction can also increase the frequency of the transactions and increase the average order value.
AI helps to retain customers
Better processes in sales and customer service will help you keep customers longer. They will also have fewer reasons to choose you over your competitors even if competitors try to lure them with better offers.
Better customer retention helps you reduce costs on advertising, marketing, and sales. When you are able to keep clients longer, it will become easier to personalize your offers for them. When your product, service, or communications are more personalized, your brand image gets even better. This in turn makes it harder for competitors to poach your customers.
For example, AI can play a role of your ideal customer to help you fine-tune your marketing communications.
Lower marketing costs does not mean you do less marketing. You can use the same budget and time to use additional channels. Your less effective competitors will not be able to keep up with your communications.
Team morale and satisfaction
In addition to the quantifiable results, where you can improve your results without increasing your budget AI will be able increase the morale and job satisfaction of your team members. As your team can focus on more valuable tasks, they will also see their work as more rewarding.
Employees feel more successful when they complete tasks faster and have fewer issues. Overall productivity increases ensure your people that they work in a great organization. Many studies show that people want to be useful and see how their contributions help achieve organizational goals.
Focus and mental effort is directed at interesting and valuable tasks. Team members are less frustrated due to boring and routine tasks. Most of the tasks automated or eliminated with the help of AI are lower value and routine tasks that do not require a lot of creativity. Eliminating and reducing the number of such tasks increases overall team satisfaction.
AI helps in HR. Job satisfaction and meaningful tasks lead to improved relationships among the team members. Communication will improve and people are more likely to help each other.
As mentioned above, all this also leads to better business results.
AI tools help to improve employee job satisfaction and self-efficacy by a full standard deviation. Source
Employees will stay longer with the organization
As your team is satisfied with their work and atmosphere in the workplace, it’s harder for competitors to make them leave their jobs. More productive work lets you pay above average salaries. Better employee retention saves your organization tens of thousands of dollars in finding and training new talent.
Less absenteeism
More productive processes, creative work, and better compensation make your work environment more enjoyable and reduce stress. This in turn reduces the number of sick days and losses due to work not being completed on time.
People will work more
If your employee spends 8 hours in the office, it does not mean all that time is productive work. Some studies have shown that the amount of productive work completed during a regular working day could be less than 4 hours.
Optimized processes ja better job satisfaction will increase the amount of productive work performed every day.
Start compounding your results
Artificial intelligence will let you increase productivity in your organization and establish clear processes that lead to improved results. But the results you can get from AI are not just couple of percentage points.
Every task you improve will also compound other processes you have implemented. Each next step will support the ones that came before and generate exponential gains:
- Personal productivity of team members
- Better cooperation within the teams
- Eliminating errors and mistakes
- Improving customer support
- 24/7 availability
- Improved customer satisfaction
- Improved customer retention
- Scaling without increasing costs
- Predictability
- Better employee retention
- Fewer sick days
- More productive hours in each day
Contact us to find out how to make your organization more productive and beat your competition. You will find out how to educate your team and create a strategy to implement AI solutions in your organization. You can find out more about the AI implementation program here.
Every month we offer a couple of free consultation sessions where we can discuss the potential of using AI in an organization. We select the organizations for the free consultations based on our experience and ability to help in every specific case.